ICX broke out of accumulation zone and a while looked like a pump and dump pattern. Buyers stepped in and prevented the price from falling. 50% fib retrace level confirmed as support and 4h candle is now looking to close above the initial close. There is also a multi timeframe confirmation on the move, including 1d, 4h, 1h and also smal 30 and 15 min timeframes....
Very nice weekly bullish candlestick reconfirmed the previous buy signal on the daily chart (engulfing bar of 29 June). Confluence with bottom of channel trend line and 1.618 fib level. Good place to enter a medium term long position.
MID TO LONG TERM SIGNAL
Icon been sleeping whole year and reach the bottom all time low ...
for investors and coin holders .. its the time to wake up this dragon ..
Targets on chart ..
start laddering the buy zone area
no stop loss needed here
use small bags on each small dips ...
dont use all your capital in one coin
ICON NEXT EVENTS
31 December 2018...
Either ICX is going to enter some intense accumulation for a couple months here or we will see a breakout from this triangle. Only time will tell. If BTC breaks down to the bearish 3k-5k scenario I would expect ICX to break down from this triangle.
. ICON/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 54.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
. Price is in the support zone...
Keep your stop losses at just under or over 20ma although we might retest and bounce from 20ma.
don't risk big amount and scale in if chart plays out.
also same is happening with WANBTC
bullish alt season for some? quite hard to tell just yet...
The 2 green arrows are short term targets and the following drawn lines are the scenarios that follow. I'm inclined to follow the bearish outcome if BTC stays on its current trajectory. This is probably just some sort of 'B' or 'X' wave exacerbated by the news of the ICX/USDT pairing on Binance.
"Buy the rumor, get rekt by news" .. or something? Probably paraphrasing.
Right now we can see that there is a C&H pattern. Hopefully when it breaks out this will lead to the formation of an even bigger C&H.
To get the price target of a C&H pattern you add the height of the cup to the breakout point of the handle. If this plays out, you can estimate for yourself the target of the larger C&H... it will be glorious.
ICX is love, ICX is life <3